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The cryptocurrency market has experienced a massive surge over the past 24 hours. The market has added $11 billion over the past few hours after rising from $203 billion to now stand at $214 billion.

There was no major catalyst for this market movement as buying pressure slowly resumes to the market.

The 24-hour trading volume meanwhile has increased to $16 billion, up by $7 billion from the $9 billion recorded yesterday.

Bitcoin (BTC) price analysis

The Bitcoin price has surged by more than 6% on most exchanges, rising from $6,376 yesterday to now stand at around $6,400.

However, a drop in confidence around Tether (USDT) sent the price of Bitcoin as high as $7,788 on Bitfinex before dropping back to $6,880. Bitcoin continues to trade at a significant premium on Bitfinex, like due to the heavy selloff of USDT.

The daily trading volume meanwhile is up by $2 billion over the past few hours. BTC’s 24-hour trading volume yesterday was $3.2 billion but has gone up to now stand at $5.3 billion.

The sharp rise of Bitcoin price over the past few hours have seen it revert the recent downtrend. Over the past five days, BTC is up by more than 1% against the US Dollars. It was trading at $6,647 five days ago but has now gone up to $6,740.

Ethereum (ETH) price analysis

The second largest cryptocurrency has gone up by more than 7% over the past 24 hours. ETH was trading at $201 yesterday but has since then surged to now trade at $215. The increase in price came as the general market rose significantly over the past few hours.

The 24-hour trading volume meanwhile gone up by $1 billion. Ethereum’s daily trading volume yesterday was $1.1 billion but has gone up to $2.1 billion.

Ethereum is up by 3% against the USD over the past five days. It was trading at $228 five days ago but experienced a sharp decline before rising to now trade at $215. Despite its rise, Ether is still down by 7.6% against Bitcoin.

Ripple (XRP) price analysis

Ripple has also recorded gains over the past 24 hours, rising by more than 5%. XRP was trading at $0.42 yesterday but has now gone up to trade at $0.44. The daily trading volume meanwhile is up by nearly $400 million over the past 24 hours.

XRP’s 24-hour trading volume yesterday was $322 million but has surged to now stand at $719 million.

Despite its recent price surge, XRP is still down by 3.3% against the US Dollars over the past few days. It was trading at $0.48 five days ago before plunging to below the $0.4 mark but has been slowly recovering since then.

Against Bitcoin meanwhile, XRP is down by 6.4% over the past five days.

EOS (EOS) price analysis

EOS didn’t record massive gains like the other leading cryptocurrencies, rising by less than 3% over the past 24 hours. EOS was trading at $5.25 yesterday and has gone up to now trade at $5.40.

The daily trading volume has meanwhile doubled, rising from $365 million yesterday to its current price at $713 million.

EOS is still down by more than 4% against the greenback over the past five days despite its recent price increase. It was trading at $5.9 five days ago before experiencing a sharp decline like the others but has now embarked on a slow recovery.

It is meanwhile down by roughly 8% against the leading cryptocurrencies over the past five days.

Stellar Lumen (XLM) price analysis

The sixth largest cryptocurrency has finally gone past the $0.21 mark after rising by 3.6% over the past 24 hours. XLM was trading at $0.21 five days ago but experienced a surge over the past few hours and now trades at $0.22.

The 24-hour trading volume has also increased, rising from $38 million to now stand at $62 million.

Over the past five days, Stellar has lost 5.2% of its value against the USD. It was trading at $0.24 five days ago but experienced a slump like another last week before rising significantly yesterday.

It is meanwhile down by roughly 8% against BTC over the past few days.

Litecoin (LTC) price analysis

Litecoin has surged to the $55 mark after rising by more than 3% over the past 24 hours. It was trading at $53 yesterday but took part in the market rise to reach its current price of $55.

The 24-hour trading volume of LTC meanwhile rose from $271 million recorded yesterday to now stand at $350 million.

Against the US Dollars, Litecoin is down by 2% over the past five days. It was trading at $58 five days ago but now trades at $55. It has lost 6% of its value against BTC during that time period.